Realty & Infra sectors were biggest gainer. European Markets remain closed today. Dow Future up by 19pts.
(prHWY.com) December 27, 2012 - Indore, India -- MARKET WRAP FOR Equity
* India market ended positive, Nifty and Sensex both up about 0.85%.
* Asian pacific rise as Shinzo Abe was approved as Japan's prime minister.
* Gold futures tumbled below $1660 an ounce on strong gains in US dollar.
Indian indices edged higher after the government announced measures to boost India's merchandise exports & also as FIIs remained net buyers for the Indian stock. Nifty up by 49pts settles at 5905 and Sensex by 162Pts settles at 19417. Realty & Infra sectors were biggest gainer. European Markets remain closed today. Dow Future up by 19pts.
CH NIFTY OUTLOOK
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS:
SUPP 1: 5835
SUPP 2: 5750
RES 1: 5965
RES 2: 6010
CH BANK NIFTY OUTLOOK
CH BANK NIFTY TREND - CONSOLIDATE
BANK NIFTY FUTURE LEVELS:
SUPP 1: 12210
SUPP 2: 12000
RES 1: 12650
RES 2: 12845
Stock Recommendation
stock recommendation for 27/12/12 is Idea Cellular Ltd. Major trend in the stock is bearish. Idea is consolidating near swing high resistance from last month. Stock is trading above its 200DMA and near to 52 week high. In today's trading session stock breaks its consolidation range with good volume and momentum. Stock was up about 3.50%. In upcoming session we expect stock may move up from current level. One can go for long position in Idea above 104. Idea may move to the level of 110 in near term.
Our recommendation on Idea is BUY above 104 for the TGT of 107/ 110..
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